BlackBerry Maker to Cut 2,000 Jobs

BlackBerry maker Research In Motion is laying off 2,000 jobs in Canada, BBC News is reporting. The company's current COO is going to "retire" and will be replaced by the COO of products, who will now also be responsible for sales. The 2,000 people being let go are roughly 11 percent of the company's Canadian work force. According to a Financial Post report in June, the company had to cut their sales expectations for their latest product, the tablet computer called the "Playbook," by more than half. RIM stock has plummeted by more than fifty percent over the last year. The once popular phone company has lost market share to the iPhone and Android-based phones. They have also struggled to introduce products that can keep up with the other major phones and tablets on the market.

This article is from the archive of our partner The Wire.

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Connor Simpson is a former staff writer for The Wire. His work has appeared in Business Insider and City Lab.